In the ever-evolving landscape of property investment, one strategy has consistently stood out for its potential to generate significantly higher rental yields compared to traditional buy-to-let properties.
An HMO, or House of Multiple Occupancy, is widely considered to be a safer and more lucrative investment option, with multiple tenants contributing to the rent landlords can expect a consistent stream of income that surpasses that of single-tenant properties.
In Auction House East Anglia’s December livestream auction, two lots are going under the hammer in Felixstowe that would be well-suited to HMO use, subject to consent, presenting an enticing opportunity for savvy investors looking to expand their portfolios.
Residential care home with potential
8 Buregate Road, Felixstowe, Suffolk, IP11 2DE
Formerly a residential care home, this semi-detached property enjoys a prominent location with accommodation set across three floors, including two reception rooms, eight bedrooms and three bathrooms in total.
Situated in Felixstowe, with sea and beach views from the upper levels, 8 Buregate Road lends itself to HMO use, pending the necessary consent.
Boasting central heating and double glazing throughout, the property is in reasonable condition, however, it would benefit from internal modernisation to maximise income and reinstate its full potential.
With the possibility to update to HMO use, scope to produce a strong annual yield and a guide price of £475,000 - £525,000, we expect this prominent building just off Felixstowe seafront to pique the interest of keen investors in the area.
Detached conversion with scope for change of use
7 Cobbold Road, Felixstowe, Suffolk IP11 7JA
Constructed in 1898, 7 Cobbold Road is a substantial detached property in Felixstowe that is conveniently located to access both the seafront and town centre.
Currently configured as two flats set across three floors and basement, the well-proportioned rooms have retained much of their character features including fireplaces and ceiling roses.
This premises also has the possibility to accommodate off-road parking, making it a prime candidate for the HMO market, pending the necessary consent, and a first-class redevelopment opportunity.
With a guide price of £350,000 - £400,000 and potential to generate a strong yield, 7 Cobbold Road presents an attractive opportunity that we expect to generate interest amongst investors come auction day.
About Felixstowe
Located on the North Sea coast, just 12 miles from Ipswich, the town of Felixstowe grew rapidly in the second half of the 20th century.
Nowadays, it is home to an array of shops, restaurants and far-reaching sandy beaches, but the lifeblood of the town is its port.
Known for being the largest container port in the United Kingdom, it regularly attracts influxes of workers, making these properties well placed to accommodate the growing workforce.
Whether you’re looking to expand your portfolio or take your first steps into the HMO market, these lots in Felixstowe present a lucrative investment opportunity that you won’t want to miss.
Contact Auction House East Anglia on 01473 558 888 our visit their website to find out more.
